Hong Kong virtual bank, ZA Bank, on Friday, announced the roll out of reserve bank services for stablecoin issuers. The bank noted that it is negotiating partnership with nearly 10 stablecoin firms. Per a local report, among the latest list of sandbox participants announced by the Hong Kong Monetary Authority (HKMA), stablecoin issuer Yuancoin has become one of the first members to participate. According to Yao Wensong, CEO of ZA Bank, the service combines traditional banking industry with financial technology innovation. The move marks ZA Bank to be the first virtual banking trailblazer to offer innovative banking services for stablecoin issuers.
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